Assets protected

My name is Steve and I live in Arkansas. I am 50 years old and a victim of cerebral palsy and totally disable as far as earning an income. Therefore my parents saved all their lives so that I could have enough after they were gone. My Dad passed away several years ago and my Mother was diagnosed with Alzheimer’s almost three years ago.

It was a year before that when I started to claim some of our income off of our investments although Mother’s name remains on the accounts along with mine. I’m in need of some advice on if she has to eventually have to have professional health care is their anyway that I can protect my assets.

Thanks for reading. All replies are appreciated.

Sincerely,
Steve

[ALawyer]

This is tough. If as it appears the assets are hers and yours, then to the extent they are hers, her care costs would have to be paid out of them before Medicaid would pay the bill. This makes sense as people should pay for their own care, to the extent they can, before we stick taxpayers to pay their bills.

Here there are real questions as to what is hers and what is yours. And you really need a local lawyer who is an expert on Elder Law to help you sort it out. That would be a LOT cheaper than having the government come in and take what is really yours (because it was poorly documented).

Many thanks for your replying to my message as it is appreciated very much.

I fully agree with you that people should take care of themselves before they expect the government to step in with assistance. Like you said though, it is a arkward situation that I'm in and really need to seek the advice of a local attorney.

Again thanks.

Steve